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Wednesday, October 15, 2014

You're Not Just Selling a House: How to Promote the Local Community and Lifestyle to Potential Buyers

Have you listed your home up for sale? If so, you've likely spent a lot of time crafting your listing and highlighting the many features of your home and property - but have you focused on the community around your home as well?

Let's take a look at a few ways that you can promote the qualities of your local neighborhood as you're working to convince a buyer that purchasing your home is a great decision.

Give Your Buyers The A Tour Of The Neighborhood

After your listing goes live it won't be long before potential buyers and their agents are calling to set up viewings so they can see what your home looks like in person.

When a buyer tours your home, offer to spend a few minutes giving them a quick tour of the local community as well. Have a quick route determined beforehand which takes you past schools, medical facilities and other amenities that will help to reinforce that your area is a great one to live in.

Highlight Local Community Centers And Parks

Do you have a community center, fitness center or large park nearby? If so you'll definitely want to ensure that your buyer knows about these – especially if you're selling your home to a family with children.

Modern buyers are very appreciative of green space and local cultural amenities as in many areas they're becoming a bit harder to find. Point out just how close those local running trails are or how the recreation center is just a short jog away.

Have A List Of Local Restaurants And Shops Handy

Whether you live in the suburbs or the downtown core of your city, it's likely that you have a number of restaurants, cafés and shops nearby. Consider making a quick list of these, highlighting any favorites or popular spots that are well-known to everyone who lives in the area.

Virtually everyone likes to dine out on occasion, and many buyers will prefer to live in a community that has what they need within a short drive.

If you're unsure of what community features you should be telling potential buyers about, be sure to ask your real estate agent as they have been through the selling process numerous times before and will know how to market the community around your home.

MEDIAN PRICE FOR ATLANTA HOMES

INVENTORY FOR ATLANTA HOMES

AVERAGE DAYS ON MARKET FOR ATLANTA HOMES

MARKET STRENGTH FOR ATLANTA REAL ESTATE

The chart above, Market Action Index (MAI), illustrates the balance between supply and demand using a statistical function of the current rate of home sales versus current home inventory on a scale of 1-60. An MAI value greater than 30 typically indicates a “Seller’s Market” (a.k.a. “Hot Market”) because demand is high enough to quickly absorb available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a “Buyer’s Market” (a.k.a. “Cold Market”) where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market below 27 will typically cause prices to fall.